Insurance Australia Group Ltd

IAG: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.80	Gvy	Jmcnvzr

Insurance Australia Group Earnings: Margins Improve on Price Increases and Higher Investment Income

Nathan Zaia

Aug 21, 2023

Insurance Australia Group's fiscal 2023 net profit of AUD 832 million was a material turnaround from AUD 347 million last year but was largely as expected. Adjusted for unusual items, predominantly the release of business interruption provisions, cash profit increased 112% to AUD 452 million. We maintain our AUD 5.50 fair value estimate and view the insurer as slightly overvalued.

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